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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Pound has grown again. Overview for 07.06.2016
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The Pound has grown again. Overview for 07.06.2016

The GBP/USD pair moved higher than 1.46 on Tuesday, after they published the results of another surveys relating to brexit.

It looks like over the next couple of weeks the only significant catalyst for the British Pound is going to be the referendum on the United Kingdom’s exiting the European Union. Other news and events relating to the GBP/USD pair are not so interesting for investors. The current quote for the instrument is 1.4576; today’s high was 1.4658.

Today they published more results of the British surveys on whether the people of the country are consent with the decision of exiting the EU or not. According to ORB/Telegraph, 48% of the British people don’t want to change anything, and 47% are in favor of brexit. A similar survey from Times showed that 43% are willing to stay in the EU and 42% are ready to leave it.

The difference is very slight, given that all these surveys are conducted on a “small scale” with no more than 5 thousand pollees. The general picture turns out to be rather distorted, because the number of those who have no opinion is constantly increasing.  

However, in the nearest future, all these surveys will recede into the background, and televised debates will take the stage. This Thursday, there will be debates featuring the Prime Minister of the country, David Cameron, and Nigel Farage, the leader of the United Kingdom Independence Party. During his election race, Cameron promised to hold this referendum, although he doesn’t approve brexit. On the other side, there is Farage, who is a passionate proponent of the idea of exiting the EU. The meeting of these two is going to be “hot” at least, even for the British people.

The closer the referendum date, June 23rd, the more volatile the GBP/USD pair is sure to become. Prior to the brexit referendum, only the meeting of the USA Federal Reserve System may matter for investors, but only if the regulator’s decisions are essential.
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